COTII-14[Technological Innovation In India]

COTII 2014 Conference Papers

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SBR/XBRL TECHNOLOGY- Smoothening up the Cumbersome Tasks of HR Industry: Should India also Implement It [ ]


Standard business reporting programme has developed eXtensible Business Reporting Language (XBRL), to meet the reporting and compliance requirement, which has brought a sea change in the corporate world. This paper seeks to find out the role of SBR in HR industry. After XBRL it is opening up the avenues at HR industry with the help of HCM software, which is estimated to reduce the costs by 25%, featuring easy exchange of recruitment data, online lodgement of TFN, payroll and compliance reporting to the regulatory authority. ‘Whether SBR technology actually smoothens up the tasks of HR?’, ‘how much it has been successful in the countries like Australia?’ and ‘Should it be implemented in India?’ are few of the questions that the paper answers. The Paper also figures out the smoothening up role the SBR technology plays towards HR industry by reducing the cumbersome and duplicity tasks of HR. This paper overall assesses the benefits of SBR technology in HR industry of India.

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SBR/XBRL TECHNOLOGY- Smoothening up the Cumbersome Tasks of HR Industry: Should India also implement it?????[ ]


Standard business reporting programme/ eXtensible Business Reporting Language (XBRL) has been developed to meet the reporting and compliance requirement, which has brought a sea change in the corporate world. This paper seeks to find out the role of SBR in HR industry. After XBRL it is opening up the avenues at HR industry with the help of HCM software, which is estimated to reduce the costs by 25%, featuring easy exchange of recruitment data, online lodgement of TFN, payroll and compliance reporting to the regulatory authority. ‘Whether SBR technology actually smoothens up the tasks of HR?’, ‘how much it has been successful in the countries like Australia?’ and ‘Should it be implemented in India?’ are few of the questions that the paper answers. The Paper also figures out the smoothening up role the SBR technology plays towards HR industry by reducing the cumbersome and duplicity tasks of HR. This paper overall assesses the benefits of SBR technology in HR industry of India.

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The Awareness of M-commerce Amongst Customers Today[ ]


Mobile commerce (m-commerce) refers to the ability to conduct wireless commerce transactions using mobile applications in mobile devices. The initial debate on m- commerce was characterized by a high level of optimism, followed by a more nuanced and realistic approach. It is a new concept and is emerging in a context of an established norms, rules and standards. The purpose of this study is to provide a better understanding on how e-commerce has revolutionized traditional commerce to m-commerce and how it has changed customer today. Along with it various benefits and obstacles for m-commerce have also been discussed.

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Challenges in technology-A Residue to Ponder[ ]


It is essential for an organization to bring continuous changes in the products and services provided by them to suit the ever changing and growing demands of the society.This in turn helps to maintain the sustainability of the organization in the newly developed scenario. Attitude of an organization is reflected in the technology policy adopted by the organization towards innovation. Innovation in technology helps to achieve the same objective. The challenges in the process of technology innovation may exist at any one of the stages of problem recognition or generation of idea, selection of technology , development of solution and its resultant implementation. There is need for continuous improvement in the ndustrial and scientific set-up of the system.This helps to ensure sustainable and faster growth of the country. Traditional means may not suffice to fulfill all needs of the people of the country and it is of utmost importance that benefits of the goods and services should percolate down to the grassroot level of the society. Products developed by innovation should have mass appeal as India mostly comprises of low-income group people due to unequal distribution of capital. The techniques of innovation should be safe , have economical inputs and environmentally sustainable.Many people are still marginalized by the technological development in the country. They are still not able to avail the benefits of newly developed products due to various constraints which may be economical or societal.Progress of the country is ensured if the needs of such group of people is addressed and looked into.This is one of the major challenge in front of the developing country as India.

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Pros and Cons of Celebrity Advertising in India[ ]


Advertising is any paid form of non-personal presentation of ideas, goods and services by an identified sponsor (Kotler). It is one of the strongest tools in the hands of marketers by way of which they use to communicate their product, services policies and various schemes to their consumers. In the recent years especially after liberalisation and arrival of multinational companies in India, the use of celebrities as the brand ambassador and endorser of various brands has increased immensely. A “Celebrity” refers to an „individual who is known to the public, such as actors, sport figures, entertainers? and others of the like for his or her achievement in areas other than that of the product class endorsed (Friedman and Friedman1979). Celebrities attract the consumer attention towards the advertisement and also stimulate brand recall. They help the brands to become recognisable. The present paper tries to investigate various aspects of celebrity advertisement, its usefulness and relevance in the current time when consumers are bombarded with thousands of advertisements every day. The study also tries to find out factors to be considered by the marketers while selecting a celebrity for their brand.

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Financial Inclusion:Opportunities and Future Prospects[ ]


Financial Inclusion-a key driver of economic growth and poverty alleviation , as access to finance can boost job creation, reduce vulnerability to shocks and increase investment in human capital. Where still individuals are excluded from even basic financial services - with no bank account. Many countries have recently adopted explicit financial inclusion strategies with targets for financial inclusion. Barriers such a cost, travel distance, amount of paperwork plays an important role. Despite of policy making with high interest, there are still important gaps existing. While recent years have seen some increases in financial inclusion, there is still much scope to reduce barriers to access. However one of the challenges is that efforts to increase inclusion if not implemented correctly can have the opposite effect, making poor borrowers increasingly dependent on debt and contributing to financial instability. However, RBI easing licensing norms, coming up with more women bank branches and spreading financial education in the coming years and also SBFCs role in financial inclusion can play a vital role. In the coming years, making banking individually accessible, with safe and secure electronic bank accounts ensuring the ability of banking and payment services to the entire population without discrimination. Thereby fulfilling needs of all sections in economy to eliminate the existing gap with rural India. Easy entry to foreign banks into India can enhance efficiency and competition with improvements in technology and expertise to foster financial inclusion.

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Indian Economy in Recession: A Challenge ahead[ ]


The global economic and financial crisis has sent Tsunami ripples and wave shocks across the different socio–economic and political institutions in the present global environment. Tension is mounting everywhere as job cuts are on the increase, while many global corporate organizations are shutting down their operations and a few are declaring bankruptcy. The down turn that appears to have begun in the USA in September, 2008 have some negative impact on Indian economy. The most immediate effect of this global financial crisis on India is an out flow of foreign institutional investment (FII) from the equity market. This withdrawal by the FIIs led to a steep depreciation of the rupee. The banking and non-banking financial institutions have been suffering losses. The recession generated the financial crisis in USA and other developed economies have adversely affected India’s exports of software and IT services. For fighting this crisis, government of India responded through its monetary policy by pumping the liquidity into the system rather than using effective fiscal policy i.e. public expenditure and investment to face the recession. No doubt, government has introduced three fiscal stimulus packages for stimulating demand in the economy but it was not sufficient, the larger government expenditure should be oriented towards agriculture and infrastructure. Although India has revived to high growth, this new growth should have to come not from some new speculative bubble but from enlarged government expenditure that directly improves the livelihood of the people. The present paper is an attempt to analyze the impact of recent global financial & economic crisis on Indian economy.

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CHALLENGES AND OPPORTUNITIES OF TECHNICAL INNOVATION IN INDIA[ ]


The process of innovation and growth of economy are correlated. Technical innovation is called the engine of the growth and driver of the economy. Our country has witnessed one by one closure of many factories and industries due to the lack of technical innovation. This paper presents a case study of these industries and also offers a survey report of the consequences of closure of these industries. The paper also suggests that no industries should be installed without support of technical innovation.

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INNOVATIVE STRATE FOR TRANSFORMING VILLAGES INTO VIBRANT & PROSPEROUS ENTITIES AS THE WAY FORWARD BY LINKING TRIBAL MEDICINAL PLANT CO-OPERATIVES WITH MANUFACTURING FIRMS FOR BETTER RURAL LIVELIHOOD[ ]


Agriculture is economically, nutritionally, and socially vital to India. It contributes 23 per cent of the GDP, feeds over a billion people, & employs 66 per cent of the work force1. 70% of India's population lives in villages, translating into a potential consumer base of over 700 million individuals. The rural consumer is no different from urban consumer in terms of aspirations for a better lifestyle. He is constrained by intermittent cash flows, poor infrastructure, non-availability of quality products & services and high dependence on feeder towns & cities.

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Indian Rural Retail Industry- An overview[ ]


India is a huge market composed of maximum population of youth. Indian Retail sector is growing very rapidly. Retail is an emerging sector in India. The country’s dynamic retail landscape presents a grand opportunity to investors from across the globe, to use India as a strategic business hub. Marketers need new strategies to exploit Indian rural market. There is need of innovative ideas to capture the market. Now marketers are shifting their focus to rural retail as it offers huge potential which can be tapped effectively through innovative distribution channels with retailing being the most critical element. The concept of rural malls is becoming popular. Famished of modern forms of entertainment, the rural middle class have greeted these malls with great passion. Despite being visibly a huge green pasture this rural retail sector penetration offers several bottlenecks which include rural infrastructure, life styles and varied perceptions of rural consumers. Only those companies who understand that there is no short cut to seize rural markets and frame their strategies altogether different from metros are likely to tap this resource. Indian rural market has different quality people as compared to urban market. The objective of this paper is to study the present scenario of rural retailing, noteworthy rural initiatives of the marketers, problems and myths and find a solution of Indian rural retailing. Further, it also highlights the strategies the marketers need to lay focus on before entering this segment. Indian rural market has great potential to exploit it.

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Mobile Banking: An Innovative Way to Improve Banking Performance[ ]


Mobile Banking refers to provision and availment of banking and financial services with the help of mobile telecommunication devices. The scope of offered services may include facilities to conduct bank and stock market transactions, to administer accounts and to access customised information. Mobile devices are creating opportunities for banks and other financial services providers to offer customers’ innovative ways of performing traditional banking functions. Nowhere is this trend more evident than in the area of mobile payments. Initial mobile banking services were basic in nature checking balances, etc. but advancements in device and communication tech¬nologies and the creation of native applications for mobile devices are allowing these services to move up the value chain, overcoming geographi¬cal and technological boundaries.

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Women Empowerment in financial sector through 3600 Appraisal System[ ]


The role of women has been emerging with shifts in paradigm since traditional period till after the independent India. Analyzing the current scenario, a woman has grown as to be more powerful and independent. Moving out from the boundary walls of her house to handle big corporate positions, the image of a woman has been changing. Highlighting the issues of women empowerment in India, a woman employee has become more self dependant, confident, a good decision maker, a farsighted leader, an efficient manager and thus contributing in growth and development of industry and society. Still she is kept behind under number of factors in this male dominant society. Instead of such discriminatory environment at workplace, a good performance appraisal can make a women employee more efficient and stronger to handle several responsibilities in organization and thus making her position more powerful and reliable at workplace.

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Impact Of Celebrity Endorsements On Brand[ ]


In recent years, the plethora of use of celebrities in advertisements has become more prevalent than ever. Marketers have the perception that this technique of persuasion is a winning formula to build up brand image, to increase sales revenue, and to gain strong brand loyalty. Celebrities are easily chosen by marketers to peddle their products. We are bombarded by a variety of different advertisements in our everyday life without having a choice not to. Celebrity endorsement is very popular and widely used in advertising. From magazines to TV advertisements, from toothpaste to luxury goods, celebrity-endorsed products have penetrated almost every aspect in our life Celebrity endorsement has been established as one of the most popular tools of advertising in recent time. It has become a trend and perceived as a winning formula for product marketing and brand building. It is easy to choose a celebrity but it is tough to establish a strong association between the product and the endorser. While the magnitude of the impact of celebrity endorsement remains under the purview of gray spectacles, this paper is an effort to analyze the impact of celebrity endorsements on brand. Celebrity endorsement is always a two-edged sword and it has a number of positives— if properly matched it can do wonders for the company, and if not it may produce a bad image of the company and its brand.

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LABOUR WELFARE: A TEST OF SIGNIFICANCE ON LABOUR WELFARE FACILITIES IN PSU’S ( CASE STUDY OF MAHARATAN BHEL OF U.P.)[ ]


The importance for welfare arises from a very nature of industrial system which is characterized by two basic facts (1) the conditions under which work is carried on are not congenial for health and (2) when labour join industry, he has to work in an entire strange atmosphere creating problems of adjustment, having a satisfied workforce is very essential for smoothing working of every organization. So this study is conducted to know whether the workforce are satisfied with the welfare facilities provided by PSU’s with special reference to BHEL and provide suggestion to them for improving the employees satisfaction. This present research paper reports on an exploratory study recently conducted on labour welfare practices in PSU sector. Through this study the author bringout certain significant differences in the labour welfare facilities provided in Public and Private sector. The finding shows that there is significant differences regarding labour welfare practices. It shows that PSU sector have attained greater cooperation and support of workers as compared to private sector.

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Bank Transaction Tax: An Approach to Tax Reform in India -a Clinical Review[ ]


Indian economy is undergoing a transformational change in the last few decades which lead to the requirement of reforms in tax system in India. In the era of increasing globalization it is very crucial to have an effective and efficient tax structure to increase revenue, reduce economic distortions, and creating a competitive economic environment.

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Role of Financial Institutions in Promoting Entrepreneurship in Small Scale Sector in Lucknow[ ]


The movement of entrepreneurship promotion and development in the past few decades has gone a long way in Uttar Pradesh India, particularly in the state of Lucknow. Both governments and various industrial promotion and support institutions are making considerable efforts to facilitate the process of emergence of new entrepreneurs for setting up enterprises in small scale sector. These efforts involved making attractive schemes for availability of finance and various other assistances including technical know how, training, sales, purchases, etc. It is believed that these efforts have made a favorable impact on the growth of these enterprises in the State as well as in the region. There are today a large number of organizations like, National Institute of Small Industry Extension Training (NISIET) [till it was merged with the Indian Institute of Entrepreneurship (IIE)] and the Uttar Pradesh Industrial Consultants Ltd (UPCON) who has been actively involved in entrepreneurship development activities in the region. Their efforts have been supported by the Uttar Pradesh Council (UPC) in general and financial institutions like Industrial Development Bank of India (IDBI), Small Industries Development Bank of India (SIDBI), Uttar Pradesh Development Finance Corporation Limited (UPDIC) and various commercial banks in particular. The present paper in this regard is an attempt to examine the role of financial institutions in promoting small scale and tiny industries in terms of growth of entrepreneurs, enterprises and its contribution to State Domestic Products.

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Competency Mapping – Dynamic Approach For Industrial applications[ ]


At the heart of any successful activity lies a competence or a skill. Competency Mapping is important and is an essential exercise in all organization. In this context, the present study was undertaken with the main aim of finding out the level of competency prevailing among the executives at a public sector and to provide suitable suggestion. The universe is consisting of 1616 executives from various departments out of which 308 respondents were taken as the sample by adopting Stratified Proportionate Random Sampling technique using lottery method. The questionnaire contained specific items to assess the Managerial Competency, HR Competency and General competency level Perceived by the executives. The major findings were that nearly half of the respondents have moderate level of overall managerial competency, HR Competency and general competency. Suggestion pertaining to the study given is that the management should organize more Capacity Building programmes.

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